ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for default Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.

BOXE Tritax Eurobox Plc

0.63
0.0145 (2.36%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Tritax Eurobox Plc LSE:BOXE London Ordinary Share GB00BG382L74 ORD EUR0.01 (EUR)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.0145 2.36% 0.63 0.62 0.64 0.63 0.624 0.624 87,193 16:11:31
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Real Estate Investment Trust 79.89M -223.36M -0.2768 -2.28 508.29M

Tritax EuroBox PLC New Bank Facility (6859E)

22/10/2018 7:00am

UK Regulatory


Tritax Eurobox (LSE:BOXE)
Historical Stock Chart


From Mar 2019 to Mar 2024

Click Here for more Tritax Eurobox Charts.

TIDMEBOX TIDMBOXE

RNS Number : 6859E

Tritax EuroBox PLC

22 October 2018

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, BY ANY MEANS OR MEDIA IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, ISRAEL, JAPAN, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OR BREACH OF ANY APPLICABLE LAW.

22 October 2018

TRITAX EUROBOX PLC

(the "Company")

EUR200 MILLION UNSECURED REVOLVING CREDIT FACILITY

The Board of Tritax EuroBox plc (tickers: EBOX (Sterling), BOXE (Euro)), which invests in Continental European logistics assets, is pleased to announce it has entered into a new EUR200 million unsecured revolving credit facility (the "New Facility"). The New Facility will provide the Company with flexible committed capital, at an attractive margin, to help finance the acquisition of investment opportunities in its strong identified pipeline.

The New Facility has an opening margin of 1.55% and an initial maturity of five years which can be extended, subject to lender support, by two further years, up to a maximum maturity of seven years.

When fully drawn down, the loan to value ratio ("LTV") of the Company's portfolio will be approximately 38% against a medium term LTV target of 45%.

The syndicate for the New Facility comprises HSBC Bank plc and BNP Paribas, London Branch. HSBC Bank plc will act as agent for the New Facility. The Company was advised on the financing by Lazard & Co., Limited.

Nick Preston, Fund Manager for Tritax EuroBox plc, commented:

"This financing represents a significant milestone for the Company following its Initial Public Offering in July 2018. The EUR200 million New Facility offers the Company a highly attractive cost of debt and the unsecured structure provides significant operational flexibility, underlining the support for our strategy and strong sector fundamentals.

We are delighted that HSBC Bank plc and BNP Paribas, London Branch have supported us in this financing and we look forward to developing these relationships and new ones with additional banks to provide further flexible liquidity as the Company increases the size of its portfolio."

For further information, please contact:

 
 Tritax Group                        via Newgate below 
  Nick Preston 
  James Dunlop 
  Ben Freeman 
 
 Lazard (Financial Adviser) 
  Ranjit Munro 
  Vasco Litchfield 
  Caroline Kracke                    +4420 7187 2000 
 
 Jefferies International Limited 
  Gary Gould 
  Stuart Klein                       +44 (0) 20 7029 8000 
 Kempen & Co N.V. 
  Dick Boer 
  Thomas ten Hoedt                   +31 (0) 20 348 8500 
 Newgate (Communications Adviser)    +44 (0) 20 7680 6550 
  James Benjamin                      tritax@newgatecomms.com 
  Anna Geffert 
 

The Company's LEI is: 213800HK59N7H979QU33

NOTES:

Tritax EuroBox plc intends to acquire and manage a well-diversified portfolio of well-located Continental European logistics real estate assets that are expected to deliver an attractive capital return and secure income to shareholders. These assets will fulfil key roles in the logistics and distribution supply-chain focused on the most established logistics markets and on the major population centres across core Continental European countries.

Occupier demand for Continental European logistics assets is in the midst of a major long-term structural change principally driven by the growth of e-commerce. This is evidenced by technological advancements, increased automation and supply-chain optimisation, set against a backdrop of resurgent economic growth across much of Continental Europe.

The Company's Manager, Tritax Management LLP, has assembled a full-service European logistics asset management capability including specialist "on the ground" asset and property managers with strong market standings in the Continental European logistics sector. The appointed asset managers Logistics Capital Partners ("LCP") and Dietz AG ("Dietz") are logistics specialists and offer the Company exposure to high quality asset management expertise and access to their respective development pipelines, providing acquisition opportunities across Continental Europe.

The Company is targeting, on a fully invested and geared basis, an initial Ordinary Share dividend yield of 4.75% p.a.(1) , which is expected to increase progressively through regular indexation events inherent in underlying lease agreements, and a total return on the Ordinary Shares of 9.0% p.a.(1) over the medium-term. The Company intends to pay dividends on a quarterly basis with shareholders able to receive dividends in Sterling or Euro.

Further information on Tritax EuroBox plc is available at www.tritaxeurobox.co.uk

1. Euro denominated returns, by reference to IPO issue price. These are targets only and not profit forecasts. There can be no assurances that these targets will be met and they should not be taken as indications of the Company's expected or actual future results. Accordingly, potential investors should not place any reliance on these targets in deciding whether or not to invest in the Company and should decide for themselves whether the targets are reasonable or achievable.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

MSCBFLLLVBFLFBQ

(END) Dow Jones Newswires

October 22, 2018 02:00 ET (06:00 GMT)

1 Year Tritax Eurobox Chart

1 Year Tritax Eurobox Chart

1 Month Tritax Eurobox Chart

1 Month Tritax Eurobox Chart

Your Recent History

Delayed Upgrade Clock